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Marathon Realty has recorded sales of 100 residential units valued at approximately INR 60 crore within three days of launching a new tower, NeoValley Narmada, at its NeoHomes project in Bhandup, Mumbai. The development offers studio, 1 BHK and 2 BHK units ranging from 191 sq ft to 476 sq ft. Buyer data indicates that nearly 80% of purchasers are first-time homeowners, with limited investor participation. The project’s location benefits from connectivity via Central Railway, LBS Marg, Eastern Express Highway, and the upcoming Metro Line 4, reflecting continued end-user demand for compact housing within city limits.
Marathon Realty has sold 100 residential units worth approximately INR 60 crore within three days of launching a new tower at its NeoHomes development in Bhandup, Mumbai, according to information shared by the company in the past month. Advertisement
The sales were recorded following the launch of NeoValley Narmada, a new residential wing within the larger NeoHomes project. The development comprises compact housing units, including studio, one-bedroom and two-bedroom configurations, with sizes ranging from 191 sq ft to 476 sq ft.
The project is located in Bhandup, which has seen increased residential interest due to its connectivity to key parts of Mumbai. The area is served by the Central Railway network and arterial routes such as LBS Marg and the Eastern Express Highway. The upcoming Metro Line 4 is also expected to enhance connectivity in the micro-market.
Buyer profile data shared by the developer indicates that approximately 80% of the units were purchased by first-time homebuyers. Around 15% of buyers were classified as upgraders, while investors accounted for the remaining 5%. This distribution suggests that demand for the project has been largely driven by end-users rather than speculative investment.
The pricing and configuration of units reflect a focus on compact, entry-level housing within city limits. Select one-bedroom units include two bathrooms, and the project offers amenities such as a gymnasium, studio spaces and terrace gardens. These features are positioned to cater to urban households seeking functional living spaces within constrained budgets.
Company officials indicated that the sales response reflects demand for housing that combines affordability with location advantages within Mumbai. They noted that projects within established city limits continue to attract buyers seeking proximity to workplaces and existing infrastructure.
The development forms part of a broader trend in Mumbai’s residential market, where developers are introducing smaller-format homes to address affordability constraints while retaining access to urban infrastructure. Bhandup, in particular, has emerged as a residential micro-market due to relatively lower entry prices compared with central and western suburbs.
Marathon Realty has been active in developing residential projects across the Mumbai Metropolitan Region, with a focus on mid-income and compact housing segments.
The sales momentum at NeoHomes indicates sustained demand for smaller housing units in well-connected locations, particularly among first-time buyers. The project’s performance also reflects broader market conditions, where end-user demand continues to drive absorption in the residential segment.
As infrastructure projects such as metro corridors progress, micro-markets like Bhandup are expected to remain relevant for residential development within Mumbai’s urban framework.
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